Flowpay, a pioneering Czech FinTech firm, has recently announced a successful €2.1m seed funding round.
This significant financial boost was supported by Techstars, along with notable Czech venture capitalists such as Soulmates Ventures and DEPO Ventures, according to a report from EU Startiups. The round also saw contributions from influential angel investors including Mark Ransford, Martin Herrmann, Kartik Varma, Allard Luchsinger, and others.
Specialising in Embedded Finance, Flowpay leverages predictive AI models and automation to offer small and medium-sized enterprises (SMEs) enhanced access to operational funding. The company’s innovative approach enables quick and efficient financing decisions based on real operational data analysis, setting a new standard in the operational finance market.
The funds from this latest investment will be utilised to propel Flowpay’s expansion beyond the Czech Republic. Aiming to broaden its technological capabilities, the company seeks to extend its services to a wider array of SMEs. This strategic move is expected to solidify Flowpay’s position in the market and foster significant growth.
Since its inception in 2021, Flowpay has marked its presence as a formidable player in the FinTech sector. The company’s achievements include participation in the prestigious Techstars accelerator programme in Amsterdam and acceptance into the IBM fintechx programme. Furthermore, Flowpay was honoured as the Technological Startup of the Year in the Vodafone Idea of the Year competition, underscoring its innovative contributions to the industry.
Flowpay’s founder and CEO, William Jalloul said, “Even if you have a profitable and fast-growing business, banks might still not give you a loan when you need it for something like stocking up your warehouse or investing in advertising. Banks cannot assess risk precisely and usually just look at tax returns, which are outdated and most often do not reflect reality.
“At Flowpay, we work with client data taken directly from their point-of-sales systems, e-commerce platforms like Shoptet, and use AI to rate their potential to obtain financing. We want to help SMEs grow with our Risk as a Service (RaaS) solution and license it to financial institutions around the world.”
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